Compliance August 5th, 2022 IRS Extends Plan Amendment Deadlines for SECURE Act Provisions Deadlines have also been extended to amend plans for certain provisions of the Miners Act and the CARES Act.
Compliance August 5th, 2022 Is the Qualified Professional Asset Manager Exemption in Jeopardy? One expert attorney says that while a recent regulatory proposal issued by the DOL seems sensible, as it seeks to...
Compliance August 4th, 2022 Lawsuit Accuses Fiduciaries of Chasing Low Fees Without Regard to Performance Microsoft is the latest target in a string of lawsuits over the performance of a popular TDF suite.
Compliance August 3rd, 2022 The Most ‘Outrageous’ ERISA Complaints Yet Filed? One fiduciary insurance expert who has long been tracking ERISA litigation says a spate of new complaints filed in recent...
Compliance August 2nd, 2022 Booz Allen Hamilton, Others Face Passive TDF Performance Lawsuits Unlike many other ERISA lawsuits, the complaints suggest the plan fiduciaries in question should have considered more expensive target-date funds...
Compliance August 2nd, 2022 IRS Life Expectancy Tables Updated for Retirees The actuarial update is important for plan sponsor clients to note, but the effect to regular business is likely limited,...
Compliance August 1st, 2022 Keeping Up with the Securing a Strong Retirement Act Because different provisions are included in the House and Senate versions of the ambitious retirement reform legislation, a reconciliation process...
Compliance August 1st, 2022 A Conversation with the SEC at PANC 2022 Experienced retirement plan advisers know the Securities and Exchange Commission is a critical regulator for their industry. In September, we’ll...
Compliance July 28th, 2022 Senators Raise Concerns About Bitcoin in Retirement Plans Several U.S. Senators have sent a letter requesting answers from Fidelity on their decision to allow plan sponsors to offer...
Compliance July 27th, 2022 DOL Proposes Qualified Professional Asset Manager Exemption Changes The Labor Department’s proposed amendment to a widely utilized prohibited transaction exemption is meant to ensure the exemption continues to...
Compliance July 22nd, 2022 6th Circuit Ruling Revives Parts of TriHealth ERISA Lawsuit The district court ruling in the case granted full dismissal of the excessive fee lawsuit, but the 6th Circuit has...
Compliance July 21st, 2022 IRS Rules on Mergers Involving DB Plans That Have Received SFA If a plan that received special financial assistance merges with an ongoing plan, the ongoing plan is not considered to be in critical status.
Compliance July 20th, 2022 Midsize Health System Latest to Face ERISA Challenge The complaint suggests that, as of the end of 2020, the 401(k) plan at issue had over $465 million in...
Compliance July 19th, 2022 Equitable Financial Settles SEC Charges for $50M The market regulator says the firm provided misleading account statements to investors.
Compliance July 18th, 2022 Maryland Medical System Lawsuit Clears Dismissal The text of the ruling takes just 13 pages to note that the facts of the case, as pleaded, are...
Compliance July 18th, 2022 A Social Security Solvency Q&A Joe Elsasser, Covisum’s founder and president, gives his view of the 2022 Social Security Board of Trustees solvency report.
Compliance July 15th, 2022 DOL’s ERISA Lawsuit Targets MEP Administrator Kentucky mining industry plan fiduciaries face allegations that they failed to remit participant salary deferrals.
Compliance July 13th, 2022 SEC Votes in Favor of Proxy Voting Advice Rule Amendments According to a statement from the SEC, the amendments address concerns voiced by investors and industry stakeholders regarding the proxy...
Compliance July 13th, 2022 MEP Fee Lawsuit Reaches Settlement Case documents show the parties engaged in extensive negotiations before reaching a proposed $1.1 million settlement agreement.
Compliance July 11th, 2022 ERISA Complaint Alleges $751K Retirement Account Thievery The entire retirement account balance of a Colgate-Palmolive retirement plan participant who lives in South Africa was distributed to a...